Following the initial proposal published on Jan. 16, which detailed our plans for weekly US wholesale price reporting for frozen crab, as well as pasteurized and fresh crab meat, Undercurrent News has received valuable industry feedback.
We are committed to ensuring our price assessments align with the evolving needs of the seafood market and we are issuing the following amendment to our initial market notice.
Based on the feedback gathered, we will expand our coverage to include:
- Golden King Crab, Alaska
- Golden King Crab, Russia
- Santolla Crab, Argentina
- Santolla Crab, Chile
These additions seek to provide a more comprehensive overview of the global crab market. While Russian crab imports remain banned from entering the US, related coverage tables will remain unquoted. Should future policy changes lift the ban, UCN will be ready to publish immediate price assessments for Russian-origin product.
Sample proposed product coverage
Crab, Frozen: Prices listed ex-warehouse, reflecting goods available at the seller’s warehouse.
Crab Meat (Pasteurized and Fresh): Prices listed ex-warehouse, reflecting goods available at the seller’s warehouse.
Quotation Series: All prices will be based on less-than-truckload (LTL) volumes. This industry-standard approach provides a more realistic representation of market values.
Prices will be quoted in US dollars per pound (US$/lb), the standard unit for crab and crab meat trading.
Origins: UCN will include price assessments for all major crab origins, including Russia. Current US regulations prohibit the import of Russian product, so prices for Russian-origin crab remain unquoted. UCN will activate coverage once any policy changes permit.
Our aim is to furnish the crab industry with independent, transparent, and robust price benchmarks, complementing UCN’s established standing as a trusted global seafood news provider. With nearly 3,000 data sets spanning key species, this new service will bolster our suite of market intelligence offerings.
As part of our continuous expansion, UCN is also planning to initiate US wholesale price coverage of Chilean salmon and live lobster in the coming weeks.
Your input matters
We will acknowledge all input. If industry support is confirmed, UCN intends to launch this enhanced crab price-reporting service on February 3, 2024.
Thank you for your continued cooperation and engagement. We look forward to working closely with the industry to develop reliable and insightful crab market price assessments.
Undercurrent News – Your Partner for Global Seafood Intelligence
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